HCW Biologics (NASDAQ:HCWB) Trading Down 12.3% – What’s Next?

HCW Biologics Inc. (NASDAQ:HCWB)’s stock price fell 12.3% during mid-day trading on Monday . The stock traded as low as $4.68 and last traded at $4.90. 560,862 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,754,572 shares. The stock had previously closed at $5.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HCWB. Maxim Group reduced their price objective on HCW Biologics from $120.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen downgraded HCW Biologics from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $35.00.

HCW Biologics Stock Performance

The firm has a market capitalization of $10.54 million, a PE ratio of -0.35 and a beta of 0.70. The firm has a fifty day moving average of $4.46 and a 200 day moving average of $7.05.

HCW Biologics (NASDAQ:HCWB) last announced its earnings results on Monday, August 18th. The company reported ($6.79) EPS for the quarter, missing the consensus estimate of $1.80 by ($8.59). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $7.00 million.

Institutional Investors Weigh In On HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Golden State Wealth Management LLC acquired a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company’s stock, valued at approximately $40,000. Golden State Wealth Management LLC owned approximately 0.69% of HCW Biologics as of its most recent SEC filing. 2.96% of the stock is owned by institutional investors.

About HCW Biologics

HCW Biologics Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases in the United States. The company's lead products include HCW9218, which is in Phase 1 clinical chemo-refractory/chemo-resistant solid tumors with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as Phase 2 clinical trial with metastatic advanced stage ovarian cancer patients; and HCW9302 for autoimmune and proinflammatory diseases, such as alopecia areata diseases.